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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Aimia Inc    AIM   CA00900Q1037

AIMIA INC (AIM)
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American Express extends Aeroplan deal to 2020 to exit alongside Air Canada

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05/15/2018 | 01:15am CEST

TORONTO — American Express Canada says it has reached a deal with Aimia Inc. and Air Canada extend its term as a credit card partner in the Aeroplan rewards program.

The company says the renewed contract extends through to June 29, 2020, to end at the same time as Air Canada's participation in Aeroplan.

Aimia's stock price has struggled since Air Canada announced last year that it would be splitting with the loyalty points company to start its own rewards program.

Montreal-based Aimia announced in March that it was partnering with Amazon to earn points with purchases, but lost Imperial Oil's Esso gas stations as a partner in the same month.

The company is searching for a new CEO as it looks to prepare the company for life after Air Canada, after its current chief executive David Johnston announced in late April that he would leave once a replacement was found.

Visa also provides Aeroplan-branded credit cards through TD Bank and CIBC on contracts that expire in 2024. American Express's contract was set to expire this year.

Companies in this story: (TSX:AC)(TSX:AIM)

© 2018 The Canadian Press. All rights reserved., source Canadian Press DataFile

Stocks mentioned in the article
ChangeLast1st jan.
AIMIA INC 0.49% 4.14 Delayed Quote.10.70%
AIR CANADA 1.06% 27.66 Delayed Quote.6.88%
AMERICAN EXPRESS COMPANY 0.92% 111.11 Delayed Quote.10.87%
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Latest news on AIMIA INC
08/31AIMIA : reaches settlement agreement in Aeroplan expiry class action case
AQ
08/31AIMIA : Announces Class Action Settlement
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08/28Today's Research Reports on BRP, Aimia, Saputo and Colabor Group
AC
08/27AIMIA : adds new president and chief strategy officer in wake of Aeroplan deal
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08/27AIMIA INC. : Appoints Nathaniel Felsher as President & Chief Strategy Officer
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08/25Air Canada to buy Aeroplan for $345mn
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08/23AIR CANADA : -led consortium signs deal to buy Aeroplan program from Aimia
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08/23CIBC EXPECTS TO CONTINUE WITH AEROPL : Ceo
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08/22AIMIA : leveraged recent deals to coax $450-million purchase of Aeroplan
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08/22Aeroplan members get more certainty after deal, despite lingering questions
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News from SeekingAlpha
09/05The Impact Of Air Canada's Offer On Aimia's Shareholders 
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Financials (CAD)
Sales 2018 1 560 M
EBIT 2018 -
Net income 2018 -
Debt 2018 468 M
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019
EV / Sales 2018 0,70x
EV / Sales 2019 0,43x
Capitalization 631 M
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Technical analysis trends AIMIA INC
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TrendsNeutralBullishBullish
Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 8
Average target price 3,89  CAD
Spread / Average Target -6,0%
EPS Revisions
Managers
NameTitle
Jeremy Rabe Chief Executive Officer & Director
Nathaniel Felsher President & Chief Strategy Officer
Robert Ellis Brown Executive Chairman
Mark David Grafton Chief Financial Officer
Roman Doroniuk Independent Director
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